Sunrise Realty Trust, Southern Realty Trust Provide $42M Refi on San Antonio Hotel
Houston-based DC Partners secured new financing for Thompson San Antonio, which opened in 2020
By Brian Pascus August 2, 2024 11:51 am
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A pair of real estate investment trusts have helped refinance an iconic hotel on San Antonio’s River Walk.
Houston-based DC Partners secured $42 million in two loans from Sunrise Realty Trust and Southern Realty Trust to refinance the Thompson San Antonio — Riverwalk, Commercial Observer has learned.
Sunrise Realty Trust contributed a $27.3 million loan, while Southern Realty Trust provided a $14.7 million million for the hotel project. This is the second loan Sunrise Realty Trust has made to DC Partners since 2023.
“We are excited to support DC Partners with this second transaction after previously providing a loan in Houston, Texas, for a separate project,” said Brian Sedrish, CEO of Sunrise Realty Trust. “This partnership underscores our commitment to supporting our borrowers’ growth with bespoke financing solutions.”
Sedrish is also the CEO of Southern Realty Trust. He said the deal reflects the confidence his REITs have in “continuing [DC Partners] growth in Texas.”
Located at 115 Lexington Avenue along the famous River Walk in San Antonio’s Art District – home to bars, artists, coffee houses, the San Antonio Museum of Art and the Alamo – the Thompson San Antonio — Riverwalk opened in 2020. The hotel is one of many operating under the Hyatt corporate umbrella.
The 20-story hotel spans more than 140,000 square feet and features 162 rooms, of which 33 are luxury suits. Aside from two restaurants, a spa, and a fitness center, the hotel also includes more than 5,000 square feet of conference space.
Brian Pascus can be reached at bpascus@commercialobserver.com
